When price goes up the financial incentives to develop housing go up too. More people want the product, the price is higher, and new producers want to get a piece of that business. Vacancy rates drop, prices go up, more suppliers enter the market, competition ensues, prices fall, suppliers hold back, prices go up, repeat. That’s how the cycle works, at least for people who put real money into housing.

Apply that to MAR’s stats above and you will see that of Anne Arundel, Calvert, Charles, Prince George’s and St. Mary’s Counties in MD, only Prince George’s housing supply has increased (by .1) over 2015. But their supply is already so low, I would suggest that the increase does little to lower prices.

The decreases in housing supply would indicate an uptick in housing prices in these counties. And that’s what you see in all but Anne Arundel, whose prices were already higher than the surrounding counties.

Learning to read statistics like these can help you as you plot your personal and investment real estate plans.

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Professional Photograph for my Charles County List by Beth Graeme of Graembo Creative.

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